FC Barcelona have had a summer transfer window to remember, with Deco bringing in players such as Anthony Gordon, Karim Adeyemi, Rodri, Joao Cancelo and Gabriel Jesus.
The Catalan club's financial recovery was obvious this summer, with Barça finally able to spend after the shackles had been removed.
Their recovery has received another major endorsement, with the club now ranked as the second-most valuable football club in the world.
As relayed by Mundo Deportivo , Forbes now values Barcelona at $7.5 billion, a 33 percent increase from $5.65 billion last year.
Barça have overtaken Manchester United, valued at $7.2 billion, with only Real Madrid ahead at $9.5 billion.
The increase comes alongside significant growth in Barcelona's wider business.
The club are expected to announce record revenue for the 2025-26 financial year , approaching €1.1 billion after generating €994 million the previous season.
Forbes' valuation is particularly interesting because it is based on figures from the end of the 2024-25 season.
Moving in the right direction. (Photo by Eric Alonso/Getty Images)
At that stage, Barcelona were still far from receiving the complete financial benefit of their rebuilt stadium.
The breakdown attributes $3.012 billion of Barça's valuation to commercial operations, $1.682 billion to broadcasting, $1.454 billion to ticketing and matchday activities, and $1.352 billion to the Barcelona brand.
This is where the next phase becomes fascinating.
Real Madrid have already been operating the renovated Santiago Bernabeu at full capacity, including its premium areas. Barcelona are still gradually unlocking the earning potential of Spotify Camp Nou.
Once completed, the stadium is expected to hold 104,600 supporters and include around 9,400 VIP seats. Parts of the new premium areas will already become operational during this season.
The return to Camp Nou has been a big boost. (Photo by David Ramos/Getty Images)
That creates significant room for matchday and hospitality revenue to grow beyond the figures currently used in the valuation.
Barcelona also possess enormous commercial potential through a young, successful team and global stars such as Lamine Yamal.
The La Liga champions still have ground to make up on Real Madrid, so the $2 billion valuation difference should not be dismissed.
However, the direction is encouraging. Barcelona have climbed 33 percent in a year while their most important commercial asset remains only partially operational.
The sporting project is already built to compete at the highest level. If Camp Nou delivers the revenue expected from it, Barça could surpass Madrid and reach the top in the coming years.
